I amin trouble.
I have low credit score(R9-delinquency)***. I borrowed books from local public library for some "friends" and now I do not know where they are(along with the books). The total bill is around $500. Besides I also have a very large student loan to pay off. But, if I avoid the payment(for the library), will I ever be declared bankrupt by Credit Bureau? What other problems could I face?
I do have the intention to payoff the debt, but only in small installments. They don't have my current address, so I don't plan to talk to them. Per my understanding, that library does not have such facility. I have never swindled anybody in my life. But if they screw up my credit history for late pament(year and a half), paying off the debt would be pointless. Please advise.
*** I had a $90 overdraft amount that was overdue when I had left the country for over six months. I set it right when I got back, but my score was messed up by then.
Quote:
Originally posted by bigdogchengis
I am in trouble.:
(I have low credit score(R9-delinquency)***. I borrowed books from local public library for some "friends" and now I do not know where they are(along with the books). The total bill is around $500.
Besides I also have a very large student loan to pay off. But, if I avoid the payment (for the library), will I ever be declared bankrupt by Credit Bureau? What other problems could I face?
I do have the intention to payoff the debt, but only in small installments. They don't have my current address, so I don't plan to talk to them. Per my understanding, that library does not have such facility. I have never swindled anybody in my life. But if they screw up my credit history for late pament(year and a half), paying off the debt would be pointless. Please advise.
*** I had a $90 overdraft amount that was overdue when I had left the country for over six months. I set it right when I got back, but my score was messed up by then.
---------------------------------------------------------------------------------------
bdc
When you borrow the books from a library you are responsible for them and its return. The next time take your friends who need such books, to the library and show them how to get a library card. Then show them how to pick the books. Tell them that they will have to return them on the 21st day. The so called friends are screwmongers. I am sorry that they vanished with the books. But do you know how to track them? In this day and age of internet, you can track a hound dog. Learn the way too.
When you find them, get the books from them. Ask them to send the same by CANPAR, a parcel service to your address. They are the best and the cheapest.
It will only cost you a five dollar fine per book. That is a BIG relief.
Also if you fail in this attempt, you can contact the Service Manager for the lilbrary and cut a deal with her (him). Depending on the type of books, and you do have a list of them, they will even discount them and give you a break. Go to google and find a price for them. Libraris do accept a 'money order' payment towards the monies owed, if you sent them with a photocopy of the bill with no rteturn address, by installment, after that.
If you are currently working and have the good intentions to pay, then, take the next step and do the right thing. Make a deal with who ever you have to pay the sum, and keep up the schedule and the amount that you agree upon.
Everyone will help you and you should be the first one to step up to the plate and make the first move. However small the sum might be, they will appreciate it.
Once all of the dues are paid, ask them for a letter clearing your name with a statement that you have paid up all your dues and completed your obligations to their satisfaction 'with a nil statement'. Now you can give them your FULL address and the name if you wish.
You have cleared one such remark on your credit report.
Now go for the second one.
Also start paying the student loan, in small amounts and clear their dues too. But you have to go to them and tell them your current status and why you are a dellinquent. They will always help you.
There are agencies that go one step further and get you off the hook, all in one shot for a fee. They also exist. There will be no remarks on your credit as they will also help clear the same.
Your good name is yours to keep.
Writing to this board, Canadian Desi, was the first and the best step you took.
Wish you all the best.
Freddie.
Good job on advising Freddie.
Quote:
Originally posted by ftfl
Quote:
Originally posted by bigdogchengis
I am in trouble.:
(I have low credit score(R9-delinquency)***. I borrowed books from local public library for some "friends" and now I do not know where they are(along with the books). The total bill is around $500.
Besides I also have a very large student loan to pay off. But, if I avoid the payment (for the library), will I ever be declared bankrupt by Credit Bureau? What other problems could I face?
I do have the intention to payoff the debt, but only in small installments. They don't have my current address, so I don't plan to talk to them. Per my understanding, that library does not have such facility. I have never swindled anybody in my life. But if they screw up my credit history for late pament(year and a half), paying off the debt would be pointless. Please advise.
*** I had a $90 overdraft amount that was overdue when I had left the country for over six months. I set it right when I got back, but my score was messed up by then.
---------------------------------------------------------------------------------------
bdc
When you borrow the books from a library you are responsible for them and its return. The next time take your friends who need such books, to the library and show them how to get a library card. Then show them how to pick the books. Tell them that they will have to return them on the 21st day. The so called friends are screwmongers. I am sorry that they vanished with the books. But do you know how to track them? In this day and age of internet, you can track a hound dog. Learn the way too.
When you find them, get the books from them. Ask them to send the same by CANPAR, a parcel service to your address. They are the best and the cheapest.
It will only cost you a five dollar fine per book. That is a BIG relief.
Also if you fail in this attempt, you can contact the Service Manager for the lilbrary and cut a deal with her (him). Depending on the type of books, and you do have a list of them, they will even discount them and give you a break. Go to google and find a price for them. Libraris do accept a 'money order' payment towards the monies owed, if you sent them with a photocopy of the bill with no rteturn address, by installment, after that.
If you are currently working and have the good intentions to pay, then, take the next step and do the right thing. Make a deal with who ever you have to pay the sum, and keep up the schedule and the amount that you agree upon.
Everyone will help you and you should be the first one to step up to the plate and make the first move. However small the sum might be, they will appreciate it.
Once all of the dues are paid, ask them for a letter clearing your name with a statement that you have paid up all your dues and completed your obligations to their satisfaction 'with a nil statement'. Now you can give them your FULL address and the name if you wish.
You have cleared one such remark on your credit report.
Now go for the second one.
Also start paying the student loan, in small amounts and clear their dues too. But you have to go to them and tell them your current status and why you are a dellinquent. They will always help you.
There are agencies that go one step further and get you off the hook, all in one shot for a fee. They also exist. There will be no remarks on your credit as they will also help clear the same.
Your good name is yours to keep.
Writing to this board, Canadian Desi, was the first and the best step you took.
Wish you all the best.
Freddie.
I am quite serious about my two questions above. I have been a globe-trotter most of my life and was never offered (actually repeatedly refused) credit cards and what not. So I am baffled that one needs credit cards in the first place. I do see that on occasion it was necessary, barring which things moved awful slowly. But I got used to this scenario. You might ask how would you buy a house then? Well, to me buying a house approximates buying a loaf of bread. Thankfully, I only need one house! LOL It sure will take time to accumulate a quarter million or so... but then again, I accumulated a hundred grand over three years that I have been in Canada. If you have education, my guess is, you could relentlessly hunt for good jobs or move to where such jobs are available, live far below your means... make appliances from semi-functional or dead ones, and save most of your salary and watch out for investment opportunities. In this scenario, credit history doesn't figure out. For the life of me, I wouldn't know why CIBC recently refused me a credit card. I showed them nearly a 100 grand in PC Financials which is part-owned by CIBC. The need for this damn card comes from my need to get a US visa and they needed a credit card for payment to get the appointment. I resolved it by sending them a check but it took more time. I know I will have to drive my truck instead of renting when I eventually go to NYC, once again because car rental places need credit cards. Other than these small inconveniences, one could basicall plan life outside credit history and the mumbo jumbo that goes with it.
It looks like your credit history is already screwed up. My belief is that they will keep those records for many years to come. You just may have re-program your thinking. Live like in the old countries. Walk in with a check book when you need a car or house. Just make sure you are buying the right thing and in the right condition. Or else, it can become even bigger headache once you buy stuff with full payment. Luckily, it never happened to me so far and hope it stays that way.
Location: Canada-Glorious and Free
Posted on: 21-11-07 10:20:57
Quote:
Originally posted by ftfl
If you are currently working and have the good intentions to pay, then, take the next step and do the right thing.
I agree with Freddie's advice. But the most important line was this above. DO THE RIGHT THING! You know you borrowed the books. You know you need to return them. You know you can't find the books and you owe the library. So pay up! You can negotiate the payment schedule, you can negotiate the consequence regarding the credit bureau etc. but pay up.
You are showing some remorse about swindling - and that is a good thing. Act on that and do not become a swindler.
BV
Location: Somewhere in dreamland
Posted on: 21-11-07 10:44:52
Quote:
Originally posted by GlobalIndian
So I am baffled that one needs credit cards in the first place. I do see that on occasion it was necessary, barring which things moved awful slowly. But I got used to this scenario.
Did you ever try prepaid Visa debit card?
Location: Canada-Glorious and Free
Posted on: 22-11-07 11:53:28
Quote:
Originally posted by brown_bear
Quote:
Originally posted by GlobalIndian
So I am baffled that one needs credit cards in the first place. I do see that on occasion it was necessary, barring which things moved awful slowly. But I got used to this scenario.
Did you ever try prepaid Visa debit card?
i wonder if he uses the telephone or does he still send telegrams? That is a rhetorical question - no need for an answer.
Credit cards are a modern convenience. Much like living in a house / apartment. I am sure there are people who are baffled by houses and wonder why we don't all live in caves! And there is no reason to live in a house / apartment except the comfort and convenience of it all. Likewise there is no reason to have a credit card except for the convenience of it all.
GET ONE and you won't be baffled anymore!
V
